As an end of the year is approaching, like every year end many individual taxpayers typically attempt to find legitimate tax deductions generously offered by the government, i.e. RMF, LTF or life insurance to lower his or her final tax bill. Amid the political crisis and unrest, this year the government introduces one new deduction, a tourism restoration deduction, to boost the tourism industry. This means a cost for individual taxpayer’s stay at a hotel in Thailand or individual taxpayer’s trip within Thailand with a licensed tour operator becomes a tax deduction for the taxpayer up to Baht 15,000, provided that a service fee or an accommodation fee must be paid from June 8, 2010 to December 31, 2010.
For more details, please contact our lawyers for consultation.
์NARIT&ASSOCIATES NEWSLETTER No.47 Edition October 2010
